"Generally, the concept of value is associated with the usefulness and merit of something, be it an activity or its output. Thus, value is about what is important, whether in life in general, in human action or in the operations of an organization, and as such it can be associated with judgement. Consequently, value attains a universalist and a relativist meaning.Trechos retirados de "Value Creation in the Internationalization of SMEs" de Svetla Marinova , Niina Nummela e Jorma Larimo
The most common universal meaning of value is benefit or worth. Yet, benefit always suggests a perspective, a direction, a beneficiary – someone, be it an actor, a party, an individual or a group of individuals of a sort, and as such value becomes relative, being dependent on the nature, resources and assets, bargaining power, interactions and interdependencies of that actor with others. This makes value actor-dependent and context-specific.
More recently, it has been widely recognized that an actor, who finds a product or service valuable, may also participate in creating and enhancing its value and consequently, co-create value in a value producing continuous and iterative process based on relational exchanges.
the value configuration perspective has emerged focusing on the way in which internal company activities are structured and organized to fit external relational attachments."